TSX Ends Modestly Higher After Volatile Session

(RTTNews) - The Canadian stock market faltered after a fairly good spell in positive territory during the first half of the morning session on Wednesday, and despite languishing in the red for the most part of the next few hours, rebounded in the final hour to end the day on a positive note.

The mood was cautious right through the session as surging coronavirus cases in several states across the U.S. and in many other countries raising doubts about a quick economic recovery.

The benchmark S&P/TSX Composite Index ended the day with a modest gain of 33.69 points or 0.22% at 15,629.19, after scaling a high of 15,706.92 and a low of 15,533.09 intraday.

Materials stocks had a good outing, thanks to another jump in gold prices. The Capped Materials Index surged up more than 2% as several key stocks in the section posted handsome gains. Kirkland Lake Gold (KL.TO), Silvercorp Metals (SVM.TO), First Quantum Minerals (FM.TO), Pan American Silver (PAAS.TO) and First Majestic Silver (FR.TO) rallied 7 to 7.6%. Hudbay Minerals (HBM.TO), Canfor Corp (CFP.TO), Semafo (SMF.TO), Ssr Mining (SSRM.TO), Eldorado Gold (ELD.TO) and Alacer Gold Corp (ASR.TO) gained 4 to 7%,

B2Gold Corp (BTO.TO), Franco-Nevada (FNV.TO), Agnico Eagle Mines (AEM.TO), Kinross Gold (K.TO) and Barrick Gold Corp (ABX.TO) also rose sharply.
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